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Meta's Value Plunged $700 Billion
- Thread starter Amiga
- Start date
Cyberpunkd
Member
Because via super shares he controls and will control the majority of voting rights. Which will be really interesting if at some point this will stop being OK with investors, like for example right now…
poppabk
Cheeks Spread for Digital Only Future
Yeah but they are fleeing to places. Meta is trying to be the place they flee to after that.
Amiga
Member
VR competitors like Valve and Sony have as good or better R&D in hardware, software and distribution platforms. Sony and Valve also dominate the 1st adopting market that will be gamers. Meta still can't make a game like Alyx.
feynoob
Member
You dont need a high quality games.
You just need stupid games like beat saber, boxing excercises, yoga relaxing, sunset watch, and other stupid stuff. Market it to casuals, and you are seeing a gold mine.
All that is left is the way you execute it. Wireless, and cheap entry.
here are some
here are some ways you can even make it attractive.
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Porcile
Member
It takes a herculean amount of effort, money and manpower just to churn out a 70+ Metacritic single player game these days. Zuck's shit seems doomed to failure unless AI content generation takes a huge leap forward and can start delivering for proper commercial products. This is certainly a possiblity but by the time it happens Facebook might well be beyond the point of no return.
Thaedolus
Member
US had 2.6% growth last quarter, that’s pretty solid and makes up for the slight contraction of the quarter before…
Meta sucking ass is because Meta sucks ass
DeepEnigma
Gold Member
It's not just Meta. The entire tech portfolio is down big time.
From MS to Tesla to everything in between, have had massive 100's a billions in market share loss.
Thaedolus
Member
That’s not really a good indicator of the overall economic situation though. The stock market has been juiced for years. There’s no way those companies were worth what they were trading at.
I know everyone is anticipating a recession but it’s not here yet and if it does come, it’s probably not going to be some sort of disaster. We’re still at 3.5% unemployment…I dunno, I graduated right before the Great Recession and remember the bad times and even with inflation, this ain’t the bad times
DeepEnigma
Gold Member
We are in a recession. Only thing that changed is the definition, "ironically."
Thaedolus
Member
How so? A recession has always been two straight quarters of GDP contraction. We had 2.6% growth this last quarter. How does that qualify as a recession?
I know everyone believes it’s coming, including my bosses, but it’s not here yet.
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DeepEnigma
Gold Member
We had those two straight quarters already, and they denied the recession then. Inflation is through the roof, markets are contracting, industries are suffering, we have 25 days of diesel reserves left. Buckle up, winter has the potential to be brutal.
Eru Ilúvatar
Member
Never used facebook in my life. It looked old as hell back then and even older compared to other site and services now.
StreetsofBeige
Gold Member
They redesigned the look of it years ago, but somehow its still the same ultra bland looking interface like it's posts and pics in MS Excel without the gridlines and a lot of blue buttons or trim because that's their corporate colours.
I understand they might not want to make the UI too wacky to alienate users, but it's got to be the most bland social media UI on Earth.
Thaedolus
Member
Well everyone's referring to the "looming" or "coming" recession, including the business leaders I work with...certainly there are other concerns on the horizon as well, but a recession refers to GDP growth or contraction. Inflation does not indicate a recession, in fact it's kind of the opposite. Individual markets expand and contract, but the GDP number is an indication of overall performance. Fuel prices remain a problem, but again that's sort of an indication that things are going well if the demand is there. I don't think anyone was celebrating the negative cost of oil during 2020 due to the global economy screeching to a halt. Housing prices are coming down because the cost of money is going up, probably back to where it should be to keep the market from getting overheated.
The economy certainly isn't perfect, and it never is. But the doom and gloom around it seems excessive. We just shut down the global economy and then turned it back on, and the biggest war since WWII is raging in Europe right now. Some bumps like sky high inflation aren't unexpected. But overall, it's sort of remarkable things are moving along as well as they are. Except for the lack of real AAA games coming out this year
Every younger person i know is obsessed with Tik Tok. Don't ask me why.
nightmare-slain
Member
seeing news like this makes me feel so warm and happy inside. seriously fuck zuck and facebook, instagram, and whatsapp. fuck the whole lot of it. i want that shit to burn to the fucking ground. their share price hasn't been this low since about 7 years ago brilliant!
that said, i do think there is a metaverse future coming. as much as i'd hate for it to be the case it could be that Meta are ahead of everyone else and 5-10 years from now they will benefit from it. i hope Zucks gamble fails though and Meta keeps going downhill.
i think next year when Apple release their AR/VR headset it will give us a better idea of where the "metaverse" is going. it seems Meta is waiting on Apple to make their move. If anyone can kickstart the metaverse then it's Apple. I don't think the metaverse (god i am really getting fucking sick of this word now, thanks zuck) is all about a crappy looking VR world where you pick a cartoon character and live in a virtual world. it's going to be so much bigger than that with focus on both virtual and augmented reality. as such, it seems Meta is going all in with VR instead of both AR/VR. I will admit i don't follow Meta so maybe they are working on some kind of AR application.
if the metaverse really does take off it's gonna be a good few years away. can Meta survive that long? i hope to fuck not.
brilliant!that said, i do think there is a metaverse future coming. as much as i'd hate for it to be the case it could be that Meta are ahead of everyone else and 5-10 years from now they will benefit from it. i hope Zucks gamble fails though and Meta keeps going downhill.
i think next year when Apple release their AR/VR headset it will give us a better idea of where the "metaverse" is going. it seems Meta is waiting on Apple to make their move. If anyone can kickstart the metaverse then it's Apple. I don't think the metaverse (god i am really getting fucking sick of this word now, thanks zuck) is all about a crappy looking VR world where you pick a cartoon character and live in a virtual world. it's going to be so much bigger than that with focus on both virtual and augmented reality. as such, it seems Meta is going all in with VR instead of both AR/VR. I will admit i don't follow Meta so maybe they are working on some kind of AR application.
if the metaverse really does take off it's gonna be a good few years away. can Meta survive that long? i hope to fuck not.
poppabk
Cheeks Spread for Digital Only Future
And their parent company just so happens to have an Oculus rival. They are at least taking the Meta thing semi seriously.
You could also attend virtual classes from real institutions in second life nearly 20 years ago. Metaverse doesn't add any value to education that conference calls don't already provide.
Cyberpunkd
Member
Chinese PsyOps, hopefully the US bans them soon.
Cyberpunkd
Member
Imagine all the delicious possibilities of further surveillance by the Chinese government.
poppabk
Cheeks Spread for Digital Only Future
It just adds real life stakes when you are playing Winnie the Pooh VR.Imagine all the delicious possibilities of further surveillance by the Chinese government.
dem
Member
I still see absolutely no competitor to Facebook..
Once you're a parent... you're on facebook. When I want to buy or sell things.. i go to Facebook. When I want to find out about community events.. I go on facebook.
Despite the losers to like to brag they don't have a facebook account (like.. who cares? What kind of virtue signal is this?).. the users keep going up.
TikTok is not the same thing...
Just like Snap wasn't the same thing.
What they really need to do is kick Zuck out if he keeps insisting on being the face of the company. You're starting in a hole if you're pitch starts with Zuck awkwardly pitching your "cool" vr product. It's like Bill Gates trying to pitch something against Steve Jobs. Just get him the fuck out of there.
Once you're a parent... you're on facebook. When I want to buy or sell things.. i go to Facebook. When I want to find out about community events.. I go on facebook.
Despite the losers to like to brag they don't have a facebook account (like.. who cares? What kind of virtue signal is this?).. the users keep going up.
TikTok is not the same thing...
Just like Snap wasn't the same thing.
What they really need to do is kick Zuck out if he keeps insisting on being the face of the company. You're starting in a hole if you're pitch starts with Zuck awkwardly pitching your "cool" vr product. It's like Bill Gates trying to pitch something against Steve Jobs. Just get him the fuck out of there.
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Fbh
Member
That ad is like
"Want to pay $1500 for a device to do the same shit you already doing but with extra steps?"
DeepEnigma
Gold Member
Bro, you just said that two quarters of GDP contraction is a recession. We just had that before the growth quarter and they denied it being a recession. The growth still didn't bounce back from the two negative quarters. Inflation is through the roof. You may be comfortable now, and that's great, but millions are struggling worse than they have been in quite some time. Things aren't getting any cheaper for them, from utilities, to gas to groceries, etc..Well everyone's referring to the "looming" or "coming" recession, including the business leaders I work with...certainly there are other concerns on the horizon as well, but a recession refers to GDP growth or contraction. Inflation does not indicate a recession, in fact it's kind of the opposite. Individual markets expand and contract, but the GDP number is an indication of overall performance. Fuel prices remain a problem, but again that's sort of an indication that things are going well if the demand is there. I don't think anyone was celebrating the negative cost of oil during 2020 due to the global economy screeching to a halt. Housing prices are coming down because the cost of money is going up, probably back to where it should be to keep the market from getting overheated.
The economy certainly isn't perfect, and it never is. But the doom and gloom around it seems excessive. We just shut down the global economy and then turned it back on, and the biggest war since WWII is raging in Europe right now. Some bumps like sky high inflation aren't unexpected. But overall, it's sort of remarkable things are moving along as well as they are. Except for the lack of real AAA games coming out this year
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Thaedolus
Member
I think you're right that Q1-Q2 would be called a recession based on the definition of recession. It would be the shortest and mildest possible, but technically still a recession. But I think you're incorrect about the Q3 numbers not making up for it, and we're still not seeing massive layoffs and skyrocketing unemployment or anything like that.
The things you bring up are non-trivial and important to be sure, but the situation does not appear dire. Again, I graduated when unemployment was touching 10%. That felt dire.
chromhound
Member
Shouldn't have went all in on the metaverse lol
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Melon Husk
Member
I'll just leave this here...
Halo is Back
Member
Mark Zuckerberg, live during Meta Verse conferences.
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StreetsofBeige
Gold Member
I remember Daymond John on Shark Tank saying something like "the worst mistakes you make is when you have too much money".
So true. Tech companies flooded with money due to investors, IPOs or they are successful with giant profits, if there's one thing tech companies know how to do better than any other kind of industry..... blow their money fast. And most dont even pay dividends which are a quarterly money drain for many non-tech companies.
The worst is the dot.com boom in 1998-2000 when tons of companies got billions of dollars of IPO money and blew it all with zero clue what to do. Right off the bat tech companies are always fighting the raging current of costs when they all seem to have super nice offices, free food and perks, giant salaries. You got giant established corporations that have been around forever which dont even have digs this spiffy and they've been profitable for 80 years.
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